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ARTICLE · 02 JULY 2014

Federal Bank Regulators Continue To Focus On Cybersecurity

The Federal Financial Institutions Examination Council took steps toward regulating institutions’ capacity to identify and mitigate emerging cybersecurity risks.

United StatesFinance and Banking

On June 24, 2014, the Federal Financial Institutions Examination Council ("FFIEC") took another step toward regulating financial institutions' capacity to identify, assess and mitigate emerging cybersecurity risks facing the banking industry by launching a cybersecurity-specific webpage. FFIEC, which is comprised of the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau, established the webpage to raise awareness of cybersecurity risks at financial institutions and provide a repository of cybersecurity documents and guidance previously released by FFIEC.

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